They really have quite a few problems to overcome - they cannot be relisted until they post their HY19 accounts. - they obviously cannot post their accounts because the current changes in strategies caused by AFCA intervention and new regulations has created collection timing problems and higher discounted rates which have effects on valuations - changes in valuations may likely cause loan covenant breakage - auditors are unlikely to sign off on accounts which are not in accordance with what is now industry accepted rates and practice. Once they have sorted out that jigsaw puzzle they may be back trading. All IMO. Not dissimilar to the PNC problem except the PNC CEO accepted the challenges and stayed put.
CLH Price at posting:
$1.09 Sentiment: None Disclosure: Not Held
